# BankConnect: Appendix

# Bank Identifiers

The table below lists the supported banks with their corresponding identifier. These identifiers will be used throughout the BankConnect product, whenever a bank or bank_name field are involved.

Identifier Bank Name
allahabad Allahabad Bank
alrajhi Al Rajhi Bank
andhra Andhra Bank
apgvbnk Andhra Pradesh Grameena Vikas Bank
ausfbnk AU Small Finance Bank
axis Axis Bank
bandhan Bandhan Bank
baroda Bank of Baroda
bharatbnk Bharat Co-Operative Bank
boi Bank of India
canara Canara Bank
central Central Bank of India
citi Citibank
city_union City Union Bank
corporation Corporation Bank
dbsbnk DBS Bank
dcbbnk DCB Bank
dnsbnk Dombivli Nagari Sahakari Bank
dena Dena Bank
deutsche Deutsche Bank
esafbnk ESAF Small Finance Bank
federal Federal Bank
fincarebnk Fincare Small Finance Bank
gsmahanagar GS Mahanagar Co-Op Bank
hdfc HDFC Bank
icici ICICI India
idbi IDBI Bank
idfc IDFC First Bank
indbnk Indian Bank
indusind IndusInd Bank
iob Indian Overseas Bank
jnkbnk Jammu and Kashmir Bank
karnataka Karnataka Bank
karur Karur Vysya Bank
kotak Kotak Mahindra Bank
mahabk Bank of Maharashtra
mahagrambnk Maharashtra Gramin Bank
ncb National Commercial Bank (AlAhli Bank)
newindia New India Co-Operative Bank
obc Oriental Bank of Commerce
paytm Paytm Payments Bank
pnbbnk Punjab National Bank
punjab_sind Punjab & Sind Bank
rbl RBL Bank
sbi State Bank of India
shinhan Shinhan Bank India
sib South Indian Bank
suryodaybnk Suryoday Small Finance Bank
svcbnk SVC Co-Operative Bank
syndicate Syndicate Bank
tamil_mercantile Tamilnad Mercantile Bank
ubi Union Bank of India
uco UCO Bank
ujjivan Ujjivan Small Finance Bank
united United Bank of India
vijaya Vijaya Bank
vilas Lakshmi Vilas Bank
yesbnk Yes Bank

# Transaction Channel

The list below indicates the possible value for transaction_channel field:

transaction_channel Description
upi Credit or Debit done through UPI
salary Credits which are marked as salary in the bank statement
refund Credits which are a refund of an earlier debit
payment_gateway_purchase Debits done on a payment gateway
outward_cheque_bounce Debit when a deposited cheque bounce and money is reverted
net_banking_transfer Credit or Debit done through net banking
investment Debit in account when doing an investment like FD or RD
inward_cheque_bounce Credit when the cheque bounces and money is credit back to the account
investment_cashin Credit to account, when you redeem your investment like an FD
international_transaction_arbitrage Arbitrage because of the rate difference in currencies. Can be credit or debit
debit_card Debit when a debit card is swiped at a Point of sale
chq Credit or a Debit done through cheque
cash_withdrawl Debit done when cash is withdrawn either through ATM or at Bank
cash_deposit Credit when cash is deposited in an account
bill_payment Debit marked as payment of any bill like Credit card bill payment or BillDesk
bank_interest Credit in the account for interest received on deposit
bank_charge Debit done by the bank for some service or tax like GST or SMS service
auto_debit_payment_bounce Debit bank charge because of auto-debit payment bounce
auto_debit_payment Debits like NACH or ECS
Others Others

# Description

The list below indicates the possible values for description field of the transaction object:

description Description
penalty_charge penalty charged by bank. Transaction channel is bank_charge
ach_bounce_charge ACH bounce charge. Transaction channel is bank_charge
chq_bounce_charge Cheque bounce charge. Transaction channel is bank_charge
lender_transaction lender transaction
credit_card_bill credit card bill transaction. Transaction channel is bill_payment
telco_bill telecommunications bill transaction. Transaction channel is bill_payment
electric_bill electric bill transaction. Transaction channel is bill_payment
deposit_by_machine indicates cash deposit was made on an ATM/Kiosk. Transaction channel is cash_deposit
chq_bounce_insuff_funds check bounced due to insufficient funds. Transaction channel is inward_cheque_bounce or outward_cheque_bounce
neft_return NEFT return. Transaction channel is refund

# Merchant Category

The list below indicates the possible value for merchant_category field:

merchant_category Description
alcohol Alcohol
gambling Gambling
shopping Shopping
groceries Groceries
entertainment Entertainment
medical Medical
travel Includes cabs, hotels and travel tickets
food Food
fuel Fuel
investments Investments
trading Trading
bills Bills
ewallet E-Wallet
loans Lender

# What is the FinBox Startup Program?

Our mission is to democratize financial services for the next billion Indians. We realized that the infrastructure for distribution and access to financial services in India is broken and we are fixing it one API at a time. Through FinBox Startup Program, we want to support other early-stage FinTech companies who are building financial services and products for the next billion Indians.

# Eligibility

We wish to enable early-stage companies to seamlessly collect financial data, critical to building user-centric FinTech products. The program is open to any early-stage startup that meets the following eligibility requirements:

  • Incorporated less than three years ago
  • Raised no further than Series A in total funding
  • haven’t previously received other FinBox offers or discounts

# Benefit

The FinBox Startup Program includes FinBox’s Startup Deal on BankConnect solution - Participating startups receive $500* in credit toward our monthly usage plan for up to 3 months as long as they meet our eligibility requirements.

FinBox’s BankConnect solution parses bank account statements (PDFs) and provides:

  1. User Identity data for Account Authentication,
  2. Enriched Transaction data,
  3. Fraud Detection, and
  4. Credit Assessment metrics (Asset Report) for Loan Underwriting.

Developers can use this to build loan application journeys, wealth management apps and personal finance management apps.

Other than parsing bank account statements it also provides client libraries to accept the statement PDFs manually or via net banking credentials. You can learn about BankConnect solution here.

Interested companies can apply here.

* can vary based on affiliated accelerator and VC partners.

# Frequently Asked Questions

How are the FB credits applied? Credits are applied to your monthly bill as per usage bases, covering up to $500 in total usage up to 3 months. Any additional usage costs are not covered by the program.

How do I redeem the FinBox credits? Eligible startups can apply directly to the FinBox Startup Program.

How do I find out if I’ve been accepted to the FinBox Startup Program? If you’ve been accepted to the program, you’ll receive the status of the application via email with a welcome message and the next steps. If you haven’t received an email, you can also check in your FinBox Dashboard portal and look for a Startup Program icon in the top right corner.

Where can I view the credits applied to my FinBox account? The Startup Program credits are reflected in the Dashboard usage and billing page.

Do I have to be a “new” customer to receive a coupon? New and current FinBox users who have not previously received any other coupon are eligible to apply. Only current customers with usage less than 500$ till now are eligible.

What happens if I go over my total credit applied? When you reach 80% of credits, you will get a reminder to upgrade it, failing which you will lose access once you exhaust your total credit received as part of the Startup Program offer.

What happens when my credits expire? Once you’ve used your total credits, you might be eligible to renew your contract at a discounted rate. Further commercials will include a monthly minimum commitment on monthly billing based on usage needs. Any existing balance will be adjusted in consequent billings.

How do I know if my accelerator/incubator/VC firm has a relationship with FinBox? Ask your program manager to see if they participate in the FinBox Startup Program. If they do not, you can request that they apply to become a partner.

Last Updated: 9/1/2020, 7:59:50 AM